Penang Port Commission Act 1955 s 40

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s 40 Disposal of balances

(1) The Commission may apply the whole or any portion of any balance of revenue remaining after the close of each financial year to the credit of the general account, after meeting all the charges properly debitable to that account, to the creation of such reserves as the Commission may think fit. (2) Moneys which are not immediately required to be expended in the discharge of any of the functions of the Commission shall, if invested, be invested by the Commission in investments for the time being authorized by law for the investment of trust funds or in such other investment or security as may from time to time be approved by the Minister of Finance, or may be deposited in any financial institutions approved by the Minister. Annual Estimates

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Find Act 140 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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